October 2, 2020

Australia injects € 101 billion into the economy to tackle COVID-19

The Australian government has decided to inject 189 billion Australian dollars (101 billion euros or 109 billion dollars) into the economy to cushion the impact of the coronavirus crisis, Australian Prime Minister Scott Morrison announced on Saturday.

“We want to help businesses continue to operate in the best possible way and for as long as they can, or pause their activities rather than shut down. We want to ensure that when this crisis is over, Australian companies can get back on track. March, “Morrison explained in his statement.

The total injection amount represents 9.7 percent of Australian GDP, according to Treasury Minister Josh Frydenberg.

The injection includes 90 billion AUS $ (48.4 billion euros or 52 billion US $) from the Central Bank of Australia (RBA), 15 billion AUS $ (8 billion euros 8.7 billion million US $) from the Government to facilitate access to financial services and 66.1 billion AUS $ (35.6 billion euros or 38.2 billion US $) of direct economic aid.

This last package of AUS $ 66.1 billion includes aid to families, self-employed workers, retirees, people who receive social benefits; aid so that companies can keep their employees and financial support so that companies are not forced to close.

Meanwhile, the government of the Australian state of New South Wales, the territory with the most detected cases of COVID-19, announced today that it is preparing to impose the closure of all non-essential services in the next 48 hours to slow the progress of the pandemic.

So far, a total of 1,071 cases of coronavirus have been detected in Australia, 436 of them in New South Wales, where 6 infected have died, out of a total of 7 deaths across the country.


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